Whilst we wait, how are others dealing with quick fail-over?
Poorly
In our case its a routed network between almost all links. And on the ones with multiple links thats where we use BFD (as BFD is buggy on mikrotik and not entirely reliable)
However this still isn't great because its only a hop-to-hop failover solution that relies on OSPF to then recalculate the best route. So your failover time will always be higher than just the BFD dead interval and can also introduce small routing loops whilst other routers are recalculating routes
It won't/shouldn't drop a phone call but it will cause a larger interruption than expected. All-in-all, pretty shit. It's an example of where you hit a scalability problem with MikroTik